Freelancer Limited (FLN) Q3 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hello and welcome to the Freelancer Limited third quarter of 2024 financial results presentation. My name is Matt Barry. I'm the Chief Executive Chairman of Freelancer Limited. Today with me in the room, I have Neil Katz, Chief Financial Officer, Colin Wisniewski, who runs the low-chef division, August Pial, who runs escrow, Andrew Bateman on my right, who runs the enterprise division and product, along with Adam Burns, who's the VP of Product and Growth. As per usual, after the call, we'll do Q&A and you can direct your questions to either myself or any of the executives in the room. Today, France delivers GMV for the third quarter of $279.8 million, which was up 25.9% on the prior corresponding period. The France GMV was $32.8 million, which was down slightly at $3.8 million on PCP. The escrow GMV was $247 million, up 31.2% on PCP. Group net cash receipts was $14.2 million, up 3.9% on PCP. at 4.3% on PCP. The escrow cash receipts were 3.3 million at 44.9% on PCP. The group achieved positive NPAT for the quarter. Escrow actually is on track for its fourth year in a row of positive earnings. We had positive net operating cash flow of 2.3 million for the quarter, which was up fairly substantially on last year. And year-to-date, we have positive operating cash flow of 4.3%. We're in the quarter with cash and cash equivalents of $21.7 million, which is up slightly on the previous quarter. Getting into each of the divisions. Now, the freelancer group is a mini Amazon services. We've got three businesses that I think are all leaders in their own right in each of their spaces. Freelancer, which is the world's largest online cloud workforce, about 76 million professionals from around the world. Escrow.com, which is the world's largest online escrow company, which allows hig...